Intuit Inc. (NASDAQ:INTU) Shares Sold by Twin Capital Management Inc.

Twin Capital Management Inc. decreased its holdings in Intuit Inc. (NASDAQ:INTU) by 1.3% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 4,847 shares of the software maker’s stock after selling 65 shares during the period. Twin Capital Management Inc.’s holdings in Intuit were worth $3,030,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also modified their holdings of INTU. NewSquare Capital LLC acquired a new position in shares of Intuit in the third quarter worth $25,000. Cape Investment Advisory Inc. purchased a new stake in shares of Intuit during the 3rd quarter worth $26,000. Steward Financial Group LLC lifted its position in shares of Intuit by 50.0% during the 3rd quarter. Steward Financial Group LLC now owns 60 shares of the software maker’s stock worth $30,000 after purchasing an additional 20 shares during the last quarter. Aspire Private Capital LLC lifted its position in shares of Intuit by 144.4% during the 3rd quarter. Aspire Private Capital LLC now owns 66 shares of the software maker’s stock worth $34,000 after purchasing an additional 39 shares during the last quarter. Finally, Webster Bank N. A. purchased a new stake in shares of Intuit during the 4th quarter worth $41,000. Institutional investors and hedge funds own 83.66% of the company’s stock.

Intuit Price Performance

Shares of INTU stock traded down $5.39 during mid-day trading on Thursday, reaching $607.82. The company’s stock had a trading volume of 297,981 shares, compared to its average volume of 1,237,135. Intuit Inc. has a 1-year low of $400.22 and a 1-year high of $671.01. The company has a market cap of $170.19 billion, a P/E ratio of 62.54, a PEG ratio of 3.72 and a beta of 1.21. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.17 and a current ratio of 1.17. The firm’s 50-day moving average is $644.88 and its two-hundred day moving average is $598.39.

Intuit (NASDAQ:INTU) last issued its quarterly earnings data on Thursday, February 22nd. The software maker reported $2.63 EPS for the quarter, topping analysts’ consensus estimates of $2.30 by $0.33. The firm had revenue of $3.39 billion for the quarter, compared to analyst estimates of $3.39 billion. Intuit had a net margin of 18.35% and a return on equity of 17.51%. The company’s revenue was up 11.3% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.05 EPS. On average, research analysts predict that Intuit Inc. will post 11.27 earnings per share for the current year.

Intuit Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, April 18th. Shareholders of record on Wednesday, April 10th will be issued a dividend of $0.90 per share. The ex-dividend date is Tuesday, April 9th. This represents a $3.60 annualized dividend and a yield of 0.59%. Intuit’s dividend payout ratio (DPR) is currently 36.73%.

Analysts Set New Price Targets

INTU has been the subject of several recent analyst reports. Piper Sandler lifted their price objective on shares of Intuit from $642.00 to $750.00 and gave the stock an “overweight” rating in a research report on Friday, February 23rd. Mizuho lifted their price objective on shares of Intuit from $670.00 to $725.00 and gave the stock a “buy” rating in a research report on Friday, February 23rd. BMO Capital Markets reaffirmed an “outperform” rating and set a $700.00 price objective on shares of Intuit in a research report on Tuesday, March 26th. Evercore ISI lifted their price objective on shares of Intuit from $670.00 to $725.00 and gave the stock an “outperform” rating in a research report on Friday, February 23rd. Finally, KeyCorp boosted their price target on shares of Intuit from $700.00 to $720.00 and gave the company an “overweight” rating in a research report on Wednesday, March 27th. Four equities research analysts have rated the stock with a hold rating and twenty have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $645.00.

Insiders Place Their Bets

In other news, EVP Kerry J. Mclean sold 3,692 shares of Intuit stock in a transaction that occurred on Tuesday, February 27th. The shares were sold at an average price of $663.84, for a total value of $2,450,897.28. Following the sale, the executive vice president now directly owns 22,948 shares in the company, valued at $15,233,800.32. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other Intuit news, EVP Kerry J. Mclean sold 3,692 shares of Intuit stock in a transaction on Tuesday, February 27th. The shares were sold at an average price of $663.84, for a total transaction of $2,450,897.28. Following the completion of the transaction, the executive vice president now directly owns 22,948 shares of the company’s stock, valued at $15,233,800.32. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP Alex G. Balazs sold 280 shares of the business’s stock in a transaction dated Wednesday, March 20th. The shares were sold at an average price of $636.38, for a total transaction of $178,186.40. The disclosure for this sale can be found here. In the last three months, insiders have sold 4,717 shares of company stock worth $3,117,156. Company insiders own 2.90% of the company’s stock.

Intuit Profile

Intuit Inc provides financial management and compliance products and services for consumers, small businesses, self-employed, and accounting professionals in the United States, Canada, and internationally. The company operates in four segments: Small Business & Self-Employed, Consumer, Credit Karma, and ProTax.